The Economic and Social Development Fund creates 250 employment opportunities during the third quarter of 2012 || Newspapers (Arabic)

The Economic and Social Development Fund (ESFD) announced in a communiqué released yesterday the outcome of his work during the third quarter of 2012, stating that 223 projects were funded within the framework of the "Creation of Work Opportunities" programme. The total size of loans granted during that period amounted to LBP 6.5 billions while a total of 250 new work opportunities were created as a result of ESFD funding. The communiqué noted that the total number of micro and medium size credits provided since the start up of the project in 2003 and until September 2012 reached 6,882 loans amounting to a total of LBP 100.9 billion. During that same period some 4,495 new work opportunities were created.
A reminder that ESFD was created with the aim to contribute to mitigating poverty and its impact on vulnerable groups through two components, namely "Creating Work Opportunities" and "Local Development". The ESFD was established within the framework of the Euro-Mediterranean partnership and as part of an agreement signed between the Lebanese Government represented by the Council for Development and Reconstruction and the European Union.

Source:Annahar and Assafir, 31/10/2012